Wild Brush Acquires Additional Powder River Oil & Gas Leaseadmin
Tuesday, August 15th 2006
Wild Brush Energy announces the purchase of an additional Powder River Basin Federal Oil & Gas Lease in the State of Wyoming. The lease is located on the eastern side of the Basin in Weston County. This is the fifth lease the Company now controls in the region.
Wild Brush maintains its expansion strategy through acquisition of low risk, high probability oil and gas properties in proven regions such as Powder River basin. Wild Brush will continue to concentrate on the Powder River Basin area, due to the number of lease acreages it currently controls.
The Powder River Basin claims a high probability rate of discoveries and proven production as demonstrated by such companies as Chevron and Western Gas. There are presently over 12,000 gas wells, in addition to nearly 400 new wells monthly, producing over 330 billion cubic feet annually, in an area with an estimated 32 trillion cubic feet of natural gas.
In addition to the five Powder River leases, Wild Brush has another lease located in Wyoming’s Green River Basin, which according to the Bureau of Land Management contains 1,162 million barrels of recoverable oil and 43.6 trillion cubic feet of recoverable natural gas. The Company’s seventh lease is located in the Bighorn Basin, one of the most active natural gas areas in Wyoming.
Proven reserves of natural gas in Wyoming are at an all time high of nearly 19 trillion cubic feet, while proven reserves of crude oil are close to 500 million barrels. Collectively over 26,000 wells produced 54.7 million barrels of oil and 1.75 trillion cubic feet of natural gas in Wyoming annually.
About Wild Brush Energy Inc.
Wild Brush Energy is a diversified energy company whose primary goal is to identify and develop Oil & Coalbed Methane sites within the State of Wyoming. In addition, Wild Brush Energy continues to evaluate clean air alternative energy producing technologies such as Wind Power. Wild Brush trades in the U.S. under the symbol “WBRS.”
Safe Harbor for forward-looking statements
This release contains certain statements that are “forward-looking” statements (as the term is defined in the Private Securities Litigation Reform Act of 1995). Any such forward-looking statements are inherently speculative and are based on currently available information, operating plans and projections about future expectations and trends. As such, they are subject to numerous risks and uncertainties, such as general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations, and other factors over which Wild Brush Energy Inc. has little or no control. Actual results and performance may be significantly different from expectations or trends expressed or implied by such forward-looking statements. Wild Brush Energy Inc. expressly disclaims any obligation to update the statements contained in this release.
Contact: Wild Brush Energy Inc.
Investor Relations: 1-866-683-8600
Source: Wild Brush Energy Inc.